Projects and energy in Vietnam

Allen & Overy LLP

The projects practice at Allen & Overy LLP covers the full scope of energy-related transactions, with key strengths in the upstream oil and gas, petrochemicals, and renewable energy spaces. Led by Duc Tran, the team is a go-to for advisory work to both sponsors and lenders on large-scale international power projects and acts for an assortment of clients including financial institutions and developers. Banking and finance partner Adam Moncrieff continues to be another key contact for energy project finance.

Practice head(s):

Duc Tran

Other key lawyers:

Adam Moncrieff

Key clients

Asian Development Bank (ADB)

Japan Bank for International Cooperation (JBIC)

Korea Trade Insurance Corporation (K-sure)

Sumitomo Mitsui Banking Corporation (SMBC)

Marubeni Corporation

KEPCO

Landesbank Baden-Wuerttemberg (LBBW)

Standard Chartered Bank

The Export-Import Bank of Korea (KEXIM)

Sumitomo Corporation

Work highlights

  • Advised the Asian Development Bank on the financing of a 50MW solar power plant and associated transmission line in southern Vietnam.
  • Advised the joint lead managers and trustee on the $1.163bn repackaging of the project financing for Mong Duong 2 power project through a combination of project bonds and traditional bank debt.
  • Advising Long Son Petrochemicals on the $4.5bn Long Son Petrochemical Complex.

Allens

Allens' projects practice continues to be instructed on high-value renewable energy matters and is now led by Melissa Keane, who contributes expertise honed in the firm's Melbourne office. The group handles energy mandates mainly for sponsors and advises on large-scale projects within the energy and infrastructure space. In Ho Chi Minh City, Robert Fish leads project-related banking transactions, and Bill Magennis remains a key contact in the team, based in Hanoi. Cross-border capabilities are strengthened by the global alliance with Linklaters LLP.

Practice head(s):

Melissa Keane

Other key lawyers:

Robert Fish; Bill Magennis

Work highlights

  • Continuing to advise MOECO & PTTEP on various aspects of the development of their Vietnam Block B offshore natural gas project .

Frasers Law Company

Frasers Law Company handles an assortment of matters in this space, including both upstream oil and gas and renewable energy projects for investors and developers. Practice head Mark Fraser oversees the team with acts for both sponsors and lenders on transactions and advises foreign clients on development projects. Corporate lawyer Justin Gisz and senior associate Pham Thanh Mai are key contacts and support the workload.

Practice head(s):

Mark Fraser

Testimonials

‘The Frasers’ team was great to work with – very responsive, provided technically sound legal advice, in-depth understanding of upstream oil and gas regulatory issues, and flexible within the context of broader client demands on the project – everything we look for in overseas counsel.’

Key clients

Ascina Capital

VinaCapital Group

Kimball Electronics

Origin Energy Australia

Work highlights

  • Acting as lead and Vietnam counsel to VinaCapital Holdings in relation to the proposed joint venture investment in a 3GW LNG-fired power generation facility to be located in the south of Vietnam.
  • Acted as local counsel to in relation to an acquisition of interests in a company incorporated outside Vietnam by a company which indirectly holds participating interests in upstream oil & gas assets in Vietnam.

Lexcomm Vietnam LLC

Lexcomm Vietnam LLC has strength in upstream oil and gas projects, and handles heavy project financing matters in that industry. Jointly led by managing partner Pham Ba Linh in Ho Chi Minh City and Nguyen Viet Ha in Hanoi, the team also covers renewable energy mandates, petrochemicals, and handles high-value transactions for international clients. Senior associates Le Lien Huong, energy disputes expert Nguyen Hong Hai, and Tran Thanh Son all comprise the core team. The group is also skilled in PPP and infrastructure work.

Practice head(s):

Pham Ba Linh; Nguyen Viet Ha

Testimonials

‘Pham Ba Linh is a strong player, they’re a small operation but are very good at what they do.

Key clients

Woodside Energy

AC Energy

Mitsubishi Corporation

BlackRock

Nexif Energy

Korean National Oil Corporation (KNOC)

Korea Electric Power Corporation (KEPCO)

Dubai Ports (DP) World

Nghi Son Refinery and Petrochemical LLC

Premier Oil Vietnam Offshore B.V.

Repsol Vietnam

Sojitz Corporation

VILAF

VILAF's project and energy practice handles large renewables matters, which are often high-value and multi-jurisdictional. Led out of Hanoi by Tran Phong and Dang Anh, the team advises foreign investors on project financing mandates and acquisitions of existing facilities. Ho Chi Minh City-based Vo Ha Duyen is recommended for M&A transactions and joint venture work for a variety of financial institutions.

Testimonials

‘Creative and deep experienced team led by the founding partner, Mr. Tran Tuan Phong, providing excellent advice from various angles to see the possible solutions to difficult subjects in the projects and energy sector in Vietnam, especially at the juncture of delicate development of various energy projects in the country.’

‘Tran Tuan Phong, the founding partner, with his broad, strategic, balanced view is the uniquely top lawyer in the field. Vu Nguyen Quynh Lam, the counsellor is so dedicated, smart and well logic.’

Key clients

Japan Bank for International Cooperation (JBIC)

Marubeni Corporation

Sumitomo Corporation

B.Grim Power Public Company

KEPCO

Ophir Energy

Shizen Energy

AES-VCM Mong Duong Power Company Limited

Work highlights

  • Advised AES-VCM Mong Duong Holdings in relation to the international bond and commercial loan refinancing of Mong Duong 2 2×600 MW Coal Fired Power Plant.
  • Acted as Vietnamese counsel to Marubeni and KEPCO of Japan, winners of the tender to become the investors of the Nghi Son 2 BOT Thermal Power Plant project.
  • Advising the Sumitomo Corporation as sponsor of the 2 x 660MW Van Phong 1 Thermal Power Plant.

YKVN

YKVN is a well-known practice in the Vietnamese market and its project and energy offering is led by banking partner Truong Nhat Quang. Acting for both sponsors and lenders, the team is skilled in handling work on complex power projects for global banks, multinational corporations, and private equity funds. Duong Thu Ha is the key contact for renewable energy transactions and cross-border financing deals. Other members of note include US-qualified Eli Mazur, who supports practice head Quang on high-value instructions.

Practice head(s):

Truong Nhat Quang

Key clients

Bank of China

China Development Bank

Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)

China Huadian Engineering Company Ltd

Work highlights

  • Advising China Development Bank (CDB) on the financing of the 1,980 MW Vinh Tan 3 BOT Power Plant in Binh Thuan Province.
  • Advising China Huadian Engineering Co., Ltd., on project development issues, including shared facilities, project documents and EPC contracts.

Baker McKenzie

Baker McKenzie has strength in depth in the renewable energy space and handles large infrastructure projects across Vietnam. Spanning across two offices, the team is overseen by managing partner Frederick Burke , Oanh Nguyen, and special counsel Thanh Hai Nguyen. High-value M&A transactions in the industry also feature in the workload, as well as solar energy matters and real estate work. Multinational energy corporations and financial institutions make up the client roster. Special counsel Linh Chi Dang is also of note.

Practice head(s):

Frederick Burke; Oanh Nguyen

Other key lawyers:

Thanh Hai Nguyen

Testimonials

‘The team’s strength and key capability are its knowledge about the energy sector, especially renewable energy. A quick answer is also a plus.’

‘The individuals’ knowledge about renewable energy makes them different from others. Also, their soft approaches to the issues won our impression.’

 

Key clients

The World Bank Group

Climate Fund Managers

The Korea Development Bank

Standard Chartered Bank (Vietnam) Limited

Work highlights

  • Advised The World Bank in a project for the Ministry of Industry and Trade of Vietnam to design and launch a Solar Auction Program (following the FiT program) for all solar power projects in the country.
  • Advised The Korea Development Bank, NongHyup Bank on all aspects of the syndicated term loan facilities to Hyosung Vina, meant to finance the construction of a chemical plant complex.
  • Advised Korea Development Bank its 48 MW offshore wind power project development in  Tra Vinh Province.

DFDL Legal & Tax

The practice at DFDL Legal & Tax is jointly led by Hanoi-based Hoang Phong Anh and senior adviser Dave Seibert, and has experience advising on the development of power, mining and infrastructure projects, including solar, hydrocarbons and hydroelectric power. In Ho Chi Minh City, Jérôme Buzenet acts on renewable energy transactions including their financing, and the team is able to handle cross-border work due to its regional network across frontier markets in the region.

Practice head(s):

PhongAnh Hoang; Dave Seibert

Key clients

B. Grimm Power Public Company Limited

Quadran International

BG Container Glass Public Company Limited (BGC)

Work highlights

  • Advised B. Grimm Power in relation to an offshore and onshore syndicated loan provided by ADB to a post-COD 257 MW solar energy plant in Vietnam.
  • Assisted BG Container Glass on its proposed acquisition of two solar projects in Phu Yen Province, Vietnam through acquiring shares in a Thailand solar power company.
  • Advised Quadran and Cat Hiep solar power project in Binh Dinh province on their onshore project financing and security arrangements with the Bank for Investment and Development of Vietnam (BIDV).

Duane Morris Vietnam LLC

Duane Morris Vietnam LLC's Hanoi based projects team is skilled in the renewable energy space and handles a myriad of matters across the upstream oil and gas and infrastructure projects spaces. Giles Cooper and Oliver Massmann jointly lead the practice, and the core group also includes of Nguyen Thi Lang , who joined from Frasers Law Company and advises local and foreign investors on infrastructure projects. Special counsel Bach Duong Pham provides further support on transactional work in the industry.

Work highlights

  • Acted as legal counsel for John Laing Investments Ltd & Laing Investments Management Services (Australia) to support in connection with the consideration of infrastructure investment activity in Vietnam.
  • Advising Bootstrapper Pte. Ltd. on 100% acquisition of two project vehicles incorporated in Quang Tri, Vietnam with rights to develop 2 x 50MW solar power plants.
  • Advised PTSC on the oil and gas project in Ba Ria – Vung Ta.

Hogan Lovells International LLP

Hogan Lovells International LLP handles renewable energy work, advising sponsors and lenders on project financing matters across the region. Singapore-based practice head Samantha Campbell is a key name in the team, and remains active in the Vietnamese market. Senior associate Long Huynh in Ho Chi Minh City handles the bulk of the instructions and is experienced in advising regional investors on matters.

Practice head(s):

Samantha Campbell

Other key lawyers:

Long Huynh

Key clients

Japan Bank for International Cooperation (JBIC)

Super Energy (East) Pte. Ltd.

EDF Renewables

Work highlights

  • Acted as lenders’ international legal counsel in connection with the US$2.6 billion financing of the Van Phong 1 (2 x 660 MW) thermal power plant in Khanh Hoa province.
  • Advised Super Energy (East) Pte. Ltd. on the divestment of its interests in the Sinenergy Ninh Thuan I solar power plant in Vietnam held by Sinergy Ninh Thuan Power LLC to Super Energy Group (Hong Kong) Co., Ltd.
  • Advised Aboitiz Power on the $46m acquisition of a wind farm in Vietnam from Armstrong Asset Management.

ATIM

ATIM handles midstream and downstream hydrocarbon matters for clients and is led by Trinh Hong Quang out of Ho Chi Minh City. The group also acts on infrastructure projects for developers and advises foreign investors. Phuong Doan and Huynh Nguyen are core members of the team.

Practice head(s):

Trinh Hong Quang

Audier & Partners Vietnam L.L.C.

Audier & Partners Vietnam L.L.C. is experienced in handling the financing of construction and development projects in the power sector. Led by Nicholas Audier, the team advises on a range of foreign investment and acquisition matters. Other key practitioners include Etienne Laumonier and Nicolas Picard in Hanoi. Bernadette Fahy is active in contentious construction work concerning energy projects.

EPLegal Limited

EPLegal Limited has expertise located across the energy and infrastructure space and handles mid-to-upstream oil and gas and renewable energy matters for clients. Overseen by Tony Nguyen, the group also handles large-scale construction-related project work, with Harry Bui a key name for that line of work. Practice co-head and managing partner Annie Ngo is a notable contact for M&A deals in the industry, and advises clients on acquisitions and sale of oil and gas companies.

Practice head(s):

Tony Nguyen; Annie Ngo

Other key lawyers:

Harry Bui

Work highlights

  • Advising Binh Son Refining and Petrochemical on financial activities and capital arrangements of its project.
  • Advising Sumitomo on due diligence and potential M&A in an upstream project.
  • Advising Petrovietnam on investment in upstream projects in domestic and foreign.

Rajah & Tann LCT Lawyers

Rajah & Tann LCT Lawyers has expertise in clean energy projects, particularly in wind, solar and hydropower matters. Led by Vu Thi Que, the practice has experience leading advisory work and transactions across the energy sector, with project finance a core strength, an area of expertise of Nguyen Dinh Nha. Logan Leung is also of note.

Practice head(s):

Vu Thi Que

Other key lawyers:

Nguyen Dinh Nha; Logan Leung

Tilleke & Gibbins

Tilleke & Gibbins' projects practice handles the financing and licensing of major project investments across the petroleum, renewable and solar energy sectors. Vinh Quoc Nguyen oversees the team which includes associate Waewpen Piemwichai in Hanoi, who specializes in corporate transactions. The team works across Southeast Asia and leverages its offices regionally to accommodate the caseload.

Practice head(s):

Vinh Quoc Nguyen

Work highlights

  • Prepared shareholder loan agreements for a solar power plant with investment from a Middle Eastern power company.
  • Advised a renewable energy project management company on regulatory requirements for providing construction-related services in Vietnam.
  • Assisted a NASDAQ-traded company with the acquisitions of multiple solar projects in Vietnam, and numerous follow-up matters.